The Index of Services Production (ISP)
Economy · Wednesday, 15 July 2026
India released its first monthly indicator for the services sector, covering 19 sub-sectors and using GST data for statistical applications.
Quick highlights
- ISP tracks short-term changes in services sector output.
- Developed by MoSPI with 2024–25 as the base year.
- Uses GST data for statistical applications.
- Covers 19 sub-sectors, representing 60% of the services sector.
Context
India released its first Index of Services Production (ISP) for April 2026.
Key Facts
ISP tracks services sector output using GST data and CPI/WPI deflators.
Significance
Provides a dedicated measure for India's largest economic sector.
Challenges / Way Forward
Need to expand coverage to excluded sub-sectors and improve data accuracy.
Exam Angle
Relevant for GS Paper III (Economy). Discuss the role of ISP in economic analysis.
Remember this
- ISP tracks services sector output.
- Developed by MoSPI with 2024–25 as base year.
- Uses GST data for statistical applications.
- Covers 19 sub-sectors, representing 60% of services sector.